🔴 AT&T is trading 5% down today as SpaceX’s proposed network raises competition concerns

AT&T is trading 4.84% down now at $21.64 as SpaceX’s proposed network raises competition concerns.

• Bloomberg reported SpaceX is in talks to access at least 80,000 U.S. cell sites to build a nationwide wireless carrier.
• CNBC reported AT&T fell alongside T-Mobile and Verizon in premarket trading.
• The move follows AT&T’s recent earnings report; for October 23, renewed competition concern is the clearest catalyst, while results and guidance are earlier context.